Employment outcomes in developing countries did not show improvements in the first quarter of 2013. Although there was a small acceleration in the median growth rate of wages, in sharp contrast to the dynamics observed during the first half of 2012, employment...
Vea más +Employment outcomes in developing countries did not show improvements in the first quarter of 2013. Although there was a small acceleration in the median growth rate of wages, in sharp contrast to the dynamics observed during the first half of 2012, employment growth slowed down and the unemployment rate increased slightly. Most of the slowdown in employment growth took place in Asia and, particularly, in Latin America. Even in countries where employment continued to expand-Brazil, Turkey, and Romania-either the unemployment rate increased or wages fell. Regionally, East Asia drives the aggregate trend in Gross Domestic Product (GDP) growth and continues to show relatively strong economic performance. On average, its GDP growth increased from 5.3 to 6.7 percent between the first quarters of 2012 and 2013, respectively. In the Latin America and Caribbean region, macroeconomic and labor market indicators weakened and showed slower growth in the first quarter of 2013 compared to the same period in 2012. Finally, the labor market in South Africa, the only Sub-Saharan African country included in the analysis, remains in a dire situation. Overall, unemployment remained at 25.2 percent, and real wage growth further contracted from 1 to 0.5 percent.
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